IN OTHER NEWS

Grants to support rural veterinary practice

A federal grant program designed to help address rural veterinary shortages is accepting applications for 2021 until mid-April. The program, overseen by the U.S. Department of Agriculture's National Institute of Food and Agriculture (USDA-NIFA), provides grants to develop, implement, and sustain veterinary services and relieve veterinarian shortage situations across the United States. Applications for the Veterinary Services Grant Program (VSGP) are due April 16, 2021.

COVID-19 Student Debt Relief Extended

On January 20, 2021, President Biden directed the Acting Secretary of Education to continue the suspension on repayment requirements and interest accrual on federal student loans until further notice. The suspension was set to expire on January 31, 2021. Now, federal student loan flexibilities for the COVID-19 emergency have been extended through at least September 30, 2021.

Year-end funding package to aid One Health, wildlife health

The spending package approved to fund the federal government through the remainder of fiscal year 2021 provides major wins for veterinarians. These include American Veterinary Medical Association (AVMA) priorities such as One Health, funds to renovate the National Wildlife Health Center and other veterinaryrelated programs.

Employee Retention Tax Credit (ERTC) Extension

The ERTC was extended until June 30, 2021, through the latest COVID-19 relief legislation passed by Congress. The legislation increased the credit rate from 50% to 70% of qualified wages and increased the limit per-employee from $10,000 per year to $10,000 for each quarter.

Paycheck Protection Program (PPP) borrowers may also still qualify for ERTC, reversing earlier legislation that precluded this. The almost 60% of veterinary practices that took PPP loans should also explore this new option.

Source: AVMA.org